A survey of credit card holders revealed that Americans carried an average credit card balance of $3900 in 1995 and $3300 in 1994 (U.S. News & World Report, January 1, 1996). Suppose that these averages are based on random samples of 400 credit card holders in 1995 and 450 credit card holders in 1994 and that the population standard deviations o

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
A survey of credit card holders revealed that Americans carried an average credit card balance of $3900 in 1995 and $3300 in 1994 (U.S. News & World Report, January 1, 1996). Suppose that these averages are based on random samples of 400 credit card holders in 1995 and 450 credit card holders in 1994 and that the population standard deviations of the balances were $880 in 1995 and $810 in 1994. Construct a 95% confidence interval for the difference between the mean credit card balances for all credit card holders in 1995 and 1994.
a. ($285.81, $414.19)
b. ($435.81, $700.19)
c. ($845.81, $9984.19)
d. ($485.81, $714.19)
 
 
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman